Relaxations for GST related filings for registered entities in the state of Manipur
Relaxations for GST related filings for registered entities in the state of Manipur. The due date to file Form GSTR-1, GSTR-3B and GSTR-7 is extended till August 25, 2023. These notifications shall be deemed to have come into force with effect from the 31stday of July, 2023.
Central Goods and Services Tax (Amendment) Act, 2023
Supplier of services for legalized gambling activities is included under purview of CGST Act.
Guidelines for charging Income-tax on life insurance policies
The new amendments state that any sum received under a life insurance policy issued on or after April 15, 2023, excluding unit-linked insurance policies, will not be exempt if the annual premium payable for any year during the policy’s term exceeds Rs 5,00,000.
A.P clarification on taxation on the supply of Construction Services
The amendment has revised the form for exercising option by a Goods Transport Agency intending to revert under reverse charge mechanism to be filed before the commencement of any financial year to be submitted before the jurisdictional GST Authority
Tripura government implements CBIC clarification regarding taxability of services provided by an office of an organization in one State to the office of that organization in another State
It is clarified that in respect of common input services procured by the Head Office(HO) from a third party but attributable to both HO and Branch Office(BO) or exclusively to one or more BOs, HO has an option to distribute ITC in respect of such common input services by following ISD mechanism.
CBIC directions for e-commerce operators
The electronic commerce operator shall allow the supply of goods through it by the by the persons exempted from obtaining registration only if enrolment number has been allotted on the common portal to the persons exempted from obtaining registration.
Central Goods and Services Tax (Second Amendment) Rules, 2023
The amendment provides that within a period of thirty days from the date of grant of registration, or before furnishing the details of outward supplies of goods or services or both under section 37 in FORM GSTR-1or using invoice furnishing facility, whichever is earlier, a registered person shall furnish information with respect to details of bank account on the common portal.
CBIC provides compliance relaxations under GST laws
Registered person whose aggregate turnover in the financial year 2022-23 is up to two crore rupees is exempted from filing annual return for the said financial year.
CBIC commences relaxations provided by Finance Act, 2023
The Central government is empowered to provide relaxation to the bar against filing GST returns after 3 years from due date. The Government shall, on the recommendations of the Council, by notification, establish with effect from such date as may be specified therein, an Appellate Tribunal known as the Goods and Services Tax Appellate Tribunal for hearing appeals against the orders passed by the Appellate Authority or the Revisional Authority.
Bihar Goods and Services Tax (Amendment) Act, 2023
The amendment has empowered the government to provide relaxation to the bar against filing due returns including annual return and return of outward supplies after a period of three years from due date.
